The Economic Limits of Bitcoin and the Blockchain
“Indeed, what this paper highlights is that it is exactly the aspect of Bitcoin and Nakamoto (2008) that is so innovative relative to traditional distributed databases — the anonymous, decentralized trust that emerges from proof-of-work — that is so economically limiting.”
Why CPG nestles in everyones heart
“I have reason to believe that innovation will meet this demand. As that happens we will see an explosion of action in the long-tail. More investment, M&A, emerging CPG capturing more shelf space, etc. Prediction: The next 10 yrs are the Golden Age of CPG.”
Comcast v Fox v Disney behind the scenes
“The winner of the Fox assets will have a head start in the race to build an entertainment behemoth and respond to how the industry has been ravaged by consumers cutting the cable TV cord. The goal is to build the content, international scale and customer relationships to mount a challenge to tech giants such as Netflix Inc., Alphabet Inc.’s Google and Facebook Inc.”
Cable business headed for recovery in the U.S.?
“1) Cable offers the only pipe into the home in which speeds can be increased with limited incremental capital cost to meet growing bandwidth demands.
- Cable should have a large role in 5G infrastructure. As CHTR CEO, Tom Rutledge has said, 5G is mainly a standard for smaller antennas, meaning densifying networks through small cells will increase wireless speeds. However, the small cells must connect to wired infrastructure to handle the backhaul (i.e. data goes from our cellphone to a small cell which connects to coaxial cable that transmits the information to/from the datacenter). As experts at the 5G show said, we will need extensive terrestrial networks to backhaul 5G data and cable is the sleeping giant in infrastructure with the first and middle mile rights to fulfill that demand."
CRE CLO issuance isssues another bizarre chapter
“Still, the new deal is a far cry from the $1 billion that Marathon issued in 2006, which was called a CRE CDO (for collateralized debt obligation) because it contained a far broader range of assets, including senior and subordinate commercial real estate loan, subordinate commercial mortgage bonds, the debt of real estate investment trusts, and “other non-CRE collateral,” according to Kroll Bond Rating Agency.
The rating agency doesn’t indicate how Marathon’s earlier deal performed – many pre-crisis CRE CDOs sustained big losses – except to say that the preferred shares issued in the deal are still outstanding. The notes have all been repaid."